Pakistan News

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  • Distressed enterprises need a better support mechanism

    On Sept 12 the senate passed the Corporate Rehabilitation Bill, 2017, to provide an institutional arrangement and legal process for the revival and rehabilitation of distressed companies...

    The legislation resembles American bankruptcy laws in terms of management arrangement, litigation during bankruptcy proceedings and access to fresh funds
  • Interest-free loans for small enterprises planned

    PESHAWAR: The business community and officials of Small and Medium Enterprise Development Authority (Smeda) have agreed on several points, including a proposal to establish a revolving fund for provision of interest-free loans to the small and medium enterprises in the provincial metropolis, in order to boost the local economy...

  • FBR issues notices to alleged owners of offshore enterprises

    ISLAMABAD: The Federal Board of Revenue (FBR) on Saturday issued notices to persons, who have been alleged of possessing offshore enterprises by the International Consortium of Investigative Journalists (ICIJ), said a statement issued by FBR...

    Mariam Nawaz is described as “the owner of British Virgin Islands-based firms Nielsen Enterprises Limited and Nescoll Limited, incorporated in 1994 and 1993”...

  • SBP redefines small, medium enterprises

    KARACHI: In a major move, the State Bank on Friday changed the definition of small and medium enterprises, while general reserve requirement against non-fund based small enterprises portfolio has been abolished...

    The SBP issued a detailed circular to all banks and development financial Institutions (DFIs) with amendments in prudential regulations for small enterprises (SEs) and medium enterprises (MEs)...

  • Credit to loss-making state-run enterprises up 45pc

    KARACHI: The loss-making public sector enterprises (PSEs) borrowed Rs115 billion during the first seven months of this fiscal year, reflecting the government’s utter failure to make them profitable...

    Recently, the International Monetary Fund has said that annual losses of ailing public sector enterprises swelled to 3...

  • Public enterprises eat up 3.5pc of GDP in debts

    KARACHI: The public sector enterprises’ (PSEs) debt has almost soared to Rs1 trillion at the end of third quarter of FY18, State Bank of Pakistan (SBP) reported in its latest issue of Statistical Bulletin for June...

    The debts of these enterprises reached 2...

  • SEZ enterprises seek an end to ‘backdoor’ taxes, equal treatment with Chinese investors

    5 per cent turnover tax on sales revenue of enterprises operating in the zones, whereas the owners of these enterprises say that they were promised their enterprises would be tax exempt when they made the decision to invest in these zones...

    In a third “reminder” letter sent on Aug 27, they told the FBR that “[o]ur decision to invest in an SEZ was based on the SEZ Act 2012 in which SEZ enterprises are ‘exempt from all taxes on income’...

  • Layoffs of state-owned enterprises employees to be resisted: Bilawal

    KARACHI: Pakistan Peoples Party chairman Bilawal Bhutto-Zardari has warned the Pakistan Tehreek-i-Insaf (PTI) government to stop conspiring against the workers and labourers employed by state-owned enterprises, adding that any layoff of government, semi-government or state corporation employees would be vehemently resisted...

    In a statement issued on Wednesday, the PPP chairman said Prime Minister Imran Khan and some of his cabinet...

  • Loss-making state-owned enterprises adding to govt debt: WB

    ISLAMABAD: The total liabilities of the state-owned enterprises (SOEs) that made a loss in three out of the five past years have been about 8 to 12 per cent of GDP in recent years, several times more than the country’s public spending on education in 2019-20...

    South Asia is more exposed to the risk of “hidden debt” from state-owned commercial banks (SOCBs), state-owned enterprises (SOEs) and public-private partnerships (PPPs) because...

  • Evaluating the state-owned enterprises bill

    The state-owned enterprises (SOE) bill cleared by the federal cabinet seeks to address issues facing their governance and operations...

    A burning issue facing state-owned enterprises is that many directors are not appointed year after year with terrible consequences on performanceSecond, the bill does the right thing by establishing a nomination committee for recommending individuals to the federal government for their appointment as...

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